Onchain RWA market reaches $45B market cap with $3B deployed in DeFi and $475.6M in 24h DEX volume.
RWA & Tokenization ·
The onchain real-world asset market has reached a $45 billion market capitalization distributed across 4 million holders, according to Token Terminal. Within that ecosystem, $3 billion sits deployed across decentralized finance venues, while DEX trading in the asset class moved $475.6 million over a 24-hour period.
The scale of capital reflects growing adoption of tokenized real-world assets—instruments that represent traditional financial claims on blockchains. The concentration of liquidity in DeFi protocols relative to total market cap indicates that a significant portion of the asset class remains either held off-chain, in custody arrangements, or in lower-velocity positions outside active trading venues.
The data does not specify which RWA projects or categories drive the largest share of this valuation, the geographic or asset-type breakdown of the $3 billion in DeFi deployment, or the market structure of DEX trading in this segment. Whether this growth reflects new capital entry or revaluation of existing holdings also remains unclear from the figures alone.